Sezzle hopes that the narrowing of this gap puts the company on track to achieve profitability before the end of 2022.
Before July, Sezzle’s average monthly cash burn had already fallen for three consecutive quarters. This means that the company’s cash burn – defined as the total income less transaction-related costs minus operating expenses, fell to $1.8 million in July. Sezzle’s July business update indicates that it further reduced its cash burn following sustained efforts to trim expenditures.Īccording to the update, Sezzle’s operating expenses fell to USD$5.8 million in July, compared to a monthly average of $6.9 million in the second quarter of 2022 and $7.7 million in the first quarter.īy contrast, total income less transaction-related costs was $4 million in July, a leap of 25% compared to the monthly average of $3.2 million for the second quarter.
Sezzle’s July update indicates that the installment payments company has continued to trim its cash burn in its push toward profitability.
ASX-listed buy-now-pay-later (BNPL) company Sezzle could see its share price rise on efforts by the company to achieve profitability by the end of 2022.
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